he is proficient in economics and law, holds a doctorate of law, and he's written a number of books, most recently "the future of modernization: what we can learn from the crisis." mr. minister, we are delighted you could be with us. we look forward to your remarks, and then we will pepper you with questions. >> thank you very much. sorry for being late. i think today we are all, our hearts and our minds with the people in boston. and i hope this nightmare will be over soon. i am to make some remarks on financial markets, and things are going well in europe as you all know. [laugh i will be brief to have time for discussion. therefore, i just wanted to say we all remember the crisis, by the way, started in the united states, the so-called lehman problem in 2008. and in 2008 we all agreed it will never happen again. we have to draw lessons, we have to learn our lessons from the washington summit to london and pittsburgh and toronto and up to g20 meeting today this washington. in washington. we have made a lot of progress in -- since then. we agreed, all, that the reasons were three re